The GCC Board of Directors Institute (GCC BDI) signed a Memorandum of Understanding (MoU) with Alfaisal University, Saudi Arabia’s first private non-profit university, on 18 September 2018, with the aim of enhancing corporate governance practices in the Kingdom of Saudi Arabia by blending academic rigor with best business practices.
This agreement seeks to promote initiatives such as the KSA Corporate Governance Index, which is published by the Corporate Governance Centre at Alfaisal University College of Business, facilitate the sharing of information and knowledge, create increased research capacities, provide thought-leadership and guidance, participate in industry events and seek mutually beneficial opportunities for development.
The signing of this agreement marks an important milestone. Saudi Arabia’s latest economic reforms require educational institutions to completely rethink their strategies. Grooming local talents to become board members that make decisions based on strong corporate governance principles is a long-term strategy to boost the competitiveness and attractiveness of Saudi Arabia as a business hub and investment destination.